Networks, Norms, and Trust: The Social Psychology of Social Capital∗ 2004 Cooley Mead Award Address

Networks of trust relations often emerge under conditions of uncertainty or risk to facilitate social exchange. Under some conditions, such networks represent a form of social capital that can be mobilized in support of general social cooperation in the society. Under other conditions, however, such networks may have negative effects on the degree of social cooperation in the society. To examine these conditions I draw on experimental work on cooperation and trust, as well as recent work on social exchange under conditions of uncertainty and risk. After an introduction, in which I acknowledge those who have been influential in my career, I comment on the implications of this work for recent research on social capital.